Key Points
- Online IMPS up to ₹25,000 will remain free; new nominal fees apply above ₹25,000 from August 15, 2025.
- Salary package accounts retain full waiver on online IMPS; branch channel charges remain unchanged.
- Online charge slabs: ₹2+GST (₹25,001–₹1,00,000), ₹6+GST (₹1,00,001–₹2,00,000), ₹10+GST (₹2,00,001–₹5,00,000).
- IMPS per-transaction limit remains ₹5 lakh for all channels except SMS/IVR, as per NPCI.
- Other banks’ IMPS fees remain a mixed bag; comparisons show varied slabs across peers.
New Delhi: State Bank of India will revise IMPS charges for retail customers from August 15, 2025, introducing small fees on higher-value online transfers while keeping small-value online transactions free. IMPS done at branches will continue with the existing fee structure; no changes have been announced for branch channels.
New Online IMPS Fee Slabs (from Aug 15)
- Up to ₹25,000: Free
- ₹25,001–₹1,00,000: ₹2+GST
- ₹1,00,001–₹2,00,000: ₹6+GST
- ₹2,00,001–₹5,00,000: ₹10+GST
Salary package customers will continue to enjoy full waivers on online IMPS, including Defence, Para Military, Coast Guard, Central/State Government, Police, Railways, Corporate, Startup, and related package variants.
Branch IMPS Charges
SBI has not changed branch-channel IMPS fees, which remain in the existing range from ₹2+GST (lowest slab) up to ₹20+GST (highest slab).
IMPS Limit and Availability
IMPS remains a real-time, 24×7 service operated by NPCI with a per-transaction limit of ₹5 lakh across channels, except SMS and IVR. This limit is unchanged by SBI’s announcement.
How SBI Compares With Other Banks
Media comparisons note that banks like PNB and Canara levy their own tiered IMPS fees, with waivers or low-cost slabs at lower amounts and higher charges for larger transfers, underscoring that SBI’s newly introduced online fees are nominal within the industry context.
What This Means for Customers
- Small online transfers (≤₹25,000) stay free; consider batching payments to remain within the free slab where practical.
- Salary package holders remain exempt for online IMPS; verify eligibility under the specific package type.
- For those preferring branches, expect no change in fee bands already in place.
- The ₹5 lakh per-transaction cap continues, maintaining flexibility for high-value instant transfers.
Quick FAQ
- Is UPI affected? This announcement covers IMPS; UPI limits and rules are managed separately by NPCI and banks.
- Are corporate accounts covered? Reports indicate similar slabs may extend later to corporate users, with select current accounts and government/statutory bodies retaining waivers as per internal policies and timelines.
